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Chinese fundamentals support long-term iron ore outlook

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Publish time: 28th November, 2013      Source: ChinaCCM
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Australian iron ore development company BC Iron has said that stronger iron ore prices and lack of decline in Chinese steel production, typically associated with the December quarter, supports a robust long-term iron ore outlook. Additionally, China's GDP growth is expected to remain strong at approximately 7.5 percent in 2014.
 
For the financial year 2013-14, BC Iron expects to produce 5.8-6.2 million mt of iron ore from its Nullagine iron ore joint venture. In the September quarter the company shipped 1.62 million mt of iron ore, while in October it loaded three ships, each with over 200,000 mt of iron ore.